KULR · Kulr Technology Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $16.17M | $10.74M | $9.83M | $3.99M | $2.41M | $624.0K |
| Cost of Revenue | $15.40M | $5.25M | $6.16M | $1.63M | $1.10M | $169.0K |
| Gross Profit | $771.0K | $5.48M | $3.67M | $2.36M | $1.31M | $454.9K |
| R&D | $10.76M | $4.74M | $6.20M | $3.98M | $1.66M | $289.8K |
| SG&A | $27.70M | $15.98M | $19.88M | $16.67M | $11.16M | $2.51M |
| Total Operating Expenses | $43.77M | $20.72M | $26.08M | $20.65M | $12.82M | $2.80M |
| D&A | $1.40M | $1.80M | $2.21M | $259.4K | $15.7K | $15.7K |
| Operating Income | ($43.00M) | ($15.23M) | ($22.41M) | ($18.29M) | ($11.51M) | ($2.34M) |
| Interest Expense | $159.9K | $209.8K | $728.3K | $282.1K | - | - |
| Income Tax | - | - | - | - | $0 | $0 |
| Net Income | ($61.90M) | ($17.52M) | ($23.69M) | ($19.44M) | ($11.91M) | ($2.85M) |
| EPS - Basic | ($1.56) | ($0.72) | ($1.60) | ($1.44) | ($0.24) | - |
| EPS - Diluted | ($1.56) | ($0.72) | ($1.60) | ($1.44) | ($0.24) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.30M | $29.83M | $1.19M | $10.33M | $14.86M | $8.88M |
| Accounts Receivable | $2.08M | $1.98M | - | - | - | - |
| Inventory | $581.2K | $545.5K | $1.15M | $1.96M | $191.3K | $55.5K |
| Accounts Payable | $3.17M | $2.06M | $2.77M | $1.41M | $454.5K | $66.5K |
| Current Assets | $25.56M | $34.16M | $3.90M | $15.74M | $15.76M | $9.15M |
| Total Assets | $2.90M | $62.93M | $10.86M | $23.63M | $19.23M | $9.21M |
| Current Liabilities | $6.28M | $4.67M | $6.90M | $9.68M | $2.46M | $2.95M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $0 | $5.50M | $13.05M | $13.13M | $2.87M | $3.09M |
| Stockholders' Equity | $121.61M | $57.43M | ($2.18M) | $10.49M | $16.37M | $6.12M |
| Retained Earnings | ($145.71M) | ($83.81M) | ($66.29M) | ($42.59M) | ($23.16M) | ($11.25M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($44.88M) | ($17.34M) | ($11.97M) | ($17.35M) | ($6.81M) | ($2.73M) |
| Investing Cash Flow | ($89.08M) | ($21.60M) | ($1.05M) | ($4.65M) | ($2.74M) | ($46.1K) |
| Financing Cash Flow | $117.44M | $67.57M | $3.87M | $17.47M | $15.53M | $11.55M |
| CapEx | $2.99M | $573.4K | $266.1K | $2.68M | $383.3K | $46.1K |
| Free Cash Flow | ($47.87M) | ($17.92M) | ($12.23M) | ($20.04M) | ($7.19M) | ($2.78M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 4.8% | 51.1% | 37.3% | 59.2% | 54.3% | 72.9% |
| Operating margin | -265.9% | -141.9% | -228.0% | -457.8% | -477.2% | -375.1% |
| EBITDA margin | -257.3% | -125.1% | -205.5% | -451.3% | -476.5% | -372.6% |
| Net margin | -382.8% | -163.2% | -241.0% | -486.6% | -493.7% | -456.8% |
| Free cash flow margin | -296.0% | -166.8% | -124.4% | -501.6% | -297.9% | -445.0% |
| FCF / Net income | 0.77 | 1.02 | 0.52 | 1.03 | 0.60 | 0.97 |
| R&D / Revenue | 66.5% | 44.1% | 63.0% | 99.6% | 68.9% | 46.4% |
| SG&A / Revenue | 171.3% | 148.8% | 202.3% | 417.4% | 462.6% | 401.6% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -2136.5% | -27.8% | -218.1% | -82.3% | -61.9% | -31.0% |
| Return on equity | -50.9% | -30.5% | 1085.5% | -185.2% | -72.8% | -46.6% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 4.07 | 7.32 | 0.57 | 1.63 | 6.41 | 3.10 |
| Quick ratio | 3.98 | 7.21 | 0.40 | 1.42 | 6.33 | 3.09 |
| Cash ratio | 2.12 | 6.39 | 0.17 | 1.07 | 6.05 | 3.01 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -268.8x | -72.6x | -30.8x | -64.8x | - | - |
| Equity multiplier | 0.02 | 1.10 | -4.98 | 2.25 | 1.18 | 1.50 |
| Liabilities / Assets | 0.00 | 0.09 | 1.20 | 0.56 | 0.15 | 0.34 |
| Efficiency | ||||||
| Asset turnover | 5.58 | 0.17 | 0.90 | 0.17 | 0.13 | 0.07 |
| Inventory turnover | 26.50 | 9.63 | 5.36 | 0.83 | 5.76 | 3.05 |
| Days sales outstanding | 47d | 67d | - | - | - | - |
| Days inventory outstanding | 14d | 38d | 68d | 439d | 63d | 120d |
| Days payable outstanding | 75d | 143d | 164d | 315d | 151d | 144d |
| Cash conversion cycle | -15d | -38d | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 1.0x | 92.3x | - | 96.7x | 110.7x | - |
| P / S | 7.3x | 493.5x | 18.2x | 253.9x | 750.7x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 50.6% | 9.2% | 146.1% | 65.6% | 286.7% | -51.0% |
| Revenue CAGR (3y) | 59.4% | 64.5% | 150.7% | 46.4% | 23.7% | 38.4% |
| Revenue CAGR (5y) | 91.7% | 53.2% | 50.5% | 76.1% | - | - |
| Gross profit growth (YoY) | -85.9% | 49.6% | 55.1% | 80.4% | 188.1% | -24.7% |
| Operating income growth (YoY) | -182.2% | 32.0% | -22.6% | -58.8% | -391.9% | -18.2% |
| Net income growth (YoY) | -253.2% | 26.0% | -21.9% | -63.2% | -317.9% | -44.0% |
| EPS growth (YoY) | -116.7% | 55.0% | -11.1% | -500.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -167.2% | -46.5% | 39.0% | -178.7% | -158.9% | -133.6% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 111.8% | - | - | -35.9% | 167.5% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$16.17M totalEnergy Management Platform Segment$9.14M · 56.5%
Mining Of Digital Assets Segment$7.03M · 43.5%
Product / service
$14.11M totalMining Of Digital Assets$7.03M · 49.8%
Product$5.05M · 35.8%
Service$2.03M · 14.4%
Geographic
$2.58M totalNon Us$2.58M · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-78.37
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Electronic Components & Accessories
Comparing KULR Technology Group against the 5 most active filers in the same SIC group.